Welcome to Psychedelic Alpha.

Independent data-driven reporting, analysis and commentary on the psychedelics space: from business and drug development through to policy reform and culture.

Plus incubation, consultancy, and advisory for this emerging field. ∎

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Data

Open access data on psychedelic policy reform, patents and drug development activity.

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Consultancy, advisory and incubation offerings for investors, entrepreneurs, and beyond.

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Our latest insights

January 2026 Psychedelic Bill Round-up

January 30, 2026

A state-by-state and federal review of psychedelics-related bills introduced or advanced in January 2026, including pilot programs, trigger laws, and research programs.

“Changes Are Never Linear”: Joost Breeksema on the Human Side of Psychedelic Therapy

January 27, 2026

Dr. Joost Breeksema is a Dutch researcher, philosopher, and postdoctoral fellow in the Department of Psychiatry at University Medical Center Groningen (UMCG). He also serves

Op-Ed: From Psychedelic Prohibition to Psychedelic Public Health

January 26, 2026

Missi Wooldridge, Heather Kuiper, Doris Payer, and Logina Mostafa argue that public health has been largely missing from this rapidly evolving landscape, and that 2025 marked an inflection point for “psychedelic public health” as an emerging field.

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We Support

INCUBATION & GROWTH

Entrepreneurs and Startups

Whether you’re at the idea-formation stage or raising early-stage funding, we’re here to help across the entire psychedelic value chain and company life-cycle.

ADVISORY & CONSULTANCY

Investors and Corporates

We help investors and corporates of all stripes understand and support the psychedelics space: from syndicates and VCs through to institutions.

INSIGHTS & ANALYSIS

Psychedelic Insiders and the Curious

Join our newsletter to stay abreast of the rapidly emergent psychedelics industry: from clinical trials and patents through to healing centres and decriminalisation.

The Psychedelic Renaissance

After a half-century of prohibition, psychedelics are once again entering the mainstream.

Today’s so-called “psychedelic renaissance” is represented by a seemingly exponential increase in research and development activity, billions of dollars of funding, psychedelic policy reform initiatives and successes across the world, and changing public perceptions. ∎

Clinical Trials

Clinical trials involving psychedelics started, per year

Phase 3 studies of several psychedelics are underway.

$5+ billion

Invested in public and private psychedelic companies since 2020.

Psychedelic policy reforms are gaining pace at the federal, state and local level in the U.S. and internationally.

80.9%

of psychiatrists agreed that psychedelics show promise in treating psychiatric disorders.

Barnett et al., 2023

On “Alpha”

‘Alpha’, in the investing world, refers to an excess return on investment relative to a benchmark. But we broaden the definition of alpha on both ends to include more than just economic returns on more than just economic investments.

Instead, we conceptualise alpha as the excess return on myriad investments that people may make in the present and future of psychedelics: beyond economic capital, people might invest time, energy, and effort, for example. And that excess return might not be (purely) financial, it might also be realised through a more impactful treatment paradigm for mental health, for example, where the ‘benchmark’ is the inadequate status quo.

All this to say, we’re not only for investors. In fact, most of our readers aren’t: many of them are practitioners, regulators, entrepreneurs, and so on. ∎